KBRA Comments on the Announced Sale of Janney Montgomery Scott from Penn Mutual to KKR
2024年7月27日 - 1:52AM
ビジネスワイヤ(英語)
KBRA comments that subsequent to the recently announced sale of
Janney Montgomery Scott (Janney) from Penn Mutual to KKR, the AA
insurance financial strength ratings (IFSR) of Penn Mutual Life
Insurance Company, Penn Insurance and Annuity Company, Penn
Insurance and Annuity Company of NY and Vantis Life Insurance
Company, and the A+ rating on the company’s surplus notes, remain
unchanged. Management expects the transaction to close in
4Q2024.
Penn Mutual had managed Janney as an independent unit and viewed
it as an investment. The sale will provide proceeds that KBRA
expects Penn Mutual will use to invest in and grow its core
businesses.
About KBRA
KBRA is a full-service credit rating agency registered in the
U.S., the EU, and the UK, and is designated to provide structured
finance ratings in Canada. KBRA’s ratings can be used by investors
for regulatory capital purposes in multiple jurisdictions.
Doc ID: 1005267
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Donna Halverstadt, Managing Director +1 646-731-3352
donna.halverstadt@kbra.com
Ethan Kline, Associate +1 646-731-1278 ethan.kline@kbra.com
Peter Giacone, Senior Managing Director +1 646-731-2407
peter.giacone@kbra.com
Business Development Contact
Tina Bukow, Managing Director +1 646-731-2368
tina.bukow@kbra.com